Petron to adjust pump prices Wednesday

Following a series of oil price hikes, Petron is set to implement price adjustments Wednesday, the oil giant said Tuesday in a text message to GMA News. Petron said starting midnight, it will slash its diesel and kerosene prices by P0.40 per liter. For the price of regular gasoline, on the other hand, the oil giant will implement a P0.25 per liter increase. The price of premium gasoline will remain unchanged, the company said. Petron said the price adjustments reflect the movements in international oil prices. Energy Secretary Jose Rene Almendras on Monday warned that oil players found unfairly manipulating oil prices could face imprisonment. — PE/VS, GMA News